What Meet Kevin said in this video:
- QQQbullishshort-termHe discloses buying the QQQ dip at 650 and adding more this morning, seeing the market bounce on the 675 line as an early Black Friday sale.Source
- Inflationpositive for stocksshort-termHe expects headline CPI at 0.3 versus 0.6 last month, with a best case of 45% of categories at 3% year over year, which would take pressure off the Fed to hike in December.Source
- Fed Policyneutralshort-termThe bond market prices an 84% chance of a December hike, but collapsing five-year inflation expectations and tightened financial conditions from the selloff argue the Fed does not need to hike; tomorrow's CPI decides.Source
- Inflationpositive for stocksshort-termPPI expectations are high at 0.4 ex food, energy, and trade, which in his view leaves room for a downside surprise.Source
- Othernegative for stocksmid-termHe calls CoreWeave a dog whose CDS rose after the election as its stock fell, with markets concerned it cannot raise money to pay its bills.Source
- AI Capexpositive for stockslong-termHe fully agrees with Morgan Stanley and Bank of America that demand, not regulation, drives the AI capex cycle, that the midterm reaction is overdone, and that demand indicators support aggressive capex plans.Source
- SPCXbullishlong-termHe went bullish on SpaceX at 132 in September, maintains it as a great buying entry point given its return on investment, and discloses owning it.Source
- AMZNbullishlong-termHe discloses owning Amazon, likes every name on Morgan Stanley's overweight list, and notes Amazon's spend commitments doubled from this summer.Source